Private investor's diary: Taking profits

Equity markets had a good month, with many of the major indices pushing on to new highs. Global economic growth appears to be accelerating and there is increasing optimism about the outlook. Despite the general election campaign and terrorist atrocities, the UK led the way, with the FTSE All-Share (Total Return) Index up 4.4 per cent. In overseas markets, Hong Kong was up 4.2 per cent, India 4.1 per cent, Japan 2.4 per cent and Germany 1.4 per cent. In the US, 'The Donald' continued to dominate the headlines, but volatility remained at historic lows and the S&P 500 gained a further 1.2 per cent. Russia bucked the trend, down 5.6 per cent on the month, and 9.4 per cent since the turn of the year.